Described as the Avon for Gen Z, MyBeautyBrand is built on a plan to democratize influence through a peer-to-peer business model. The platform launches December 5 with a partnership with Dazed Media and investment from L Catterton, Manzanita Capital Ltd., and The Neves family office.
WHO: Founded by Robin Derrick and Max Leykind, the platform allows any individual to set up an e-store to share looks using MyBeautyBrand’s color cosmetics products, and earn a commission. The peer-to-peer recommendation offers individuals the opportunity of a side hustle, additional income, or potentially a main source of income through commission-based social selling. The brand will launch with 60 SKUs including eye shadows, blushes, highlighters, liquid lipstick, and nail lacquer with retail prices starting at 15 pounds. MyBeautyBrand has also partnered with TerraCycle to create a take-back scheme and offers free shipping to its customers who want to send back empty products for recycling.
IN THEIR OWN WORDS: “The world dearly loves a cage and being told what to do,” Robin Derrick explained to DazedBeauty. “Self-expression and freedom through communication and social media has quickly become top-down, whether that’s brands or influencers paid by brands. It’s lost its way.”
“What we’re doing is putting the company in the hands of the store owners, so you don’t just own the look, but the company, too. The reason why it will work is that an average affiliate deal is around 6 to 8 percent, and we’re at a minimum of 10 percent. You could just sell one 10-pound product and still get one pound back,” Derrick told WWD.
- According to WWD, investors in the platform include The Neves family office (backed by José Neves, founder of Farfetch); L Catterton; Manzanita Capital Ltd.; Floriane de Saint Pierre; and Mubic Ltd.
- The brand will officially launch on December 5 and expects 3 million to 5 million pounds in turnover in year one.
- Derrick and Leykind founded Eyeko that they sold to The Hut Group in May of 2018.
Photo: via MyBeautyBrand